IHH to hold back snapping up assets after buyout binge

Singapore

ASIA'S largest private hospital operator IHH Healthcare is cooling off on snapping up greenfield assets after a major buying spree in recent years, the latest being the major and highly-chequered buyout of India's Fortis Healthcare, as it focuses on building a "stable platform" across various markets where it has a presence, said its chief executive and managing director, Tan See Leng.

"This is to reduce the drag on margins. We have been aggressively expanding our footprint in the last five to six years, and just completed a significant and transformational acquisition (Fortis)," said Dr Tan at the group's results briefing on Wednesday.